Live cattle futures closed Thursday with contracts 52 cents to $1.67 in the red on the session. Cash trade has been limited so far, with a few bids of $253. Last week’s cash trade was at $260 to $265 across the country. The Thursday Fed Cattle Exchange online auction showed no sales on the 1,008 head offered, with bids of $253-255. Feeder cattle futures posted 82 cent to $1.60 losses across the front months on Thursday. The CME Feeder Cattle Index was back up $2.37 on May 27 to $369.63.
The Thursday APHIS update on the New World Screwworm showed a total of 2,072 active cases in Mexico as of Wednesday. There were 182 active cases in the bordering state of Tamaulipas, 105 active in Nuevo Leon, and 19 in Coahuila.
Wholesale Boxed Beef prices were lower in the Thursday PM report, with the Chc/Sel spread at $6.74. Choice boxes were down $2.40 to $392.32, while Select was $3.71 lower at $385.58. USDA estimated federally inspected cattle slaughter for Thursday at 110,000 head, with the weekly total at 329,000 head. That was down 35,066 head from the same post-Memorial Day week last year.
Jun 26 Live Cattle are at $249.750, down $1.675,
Aug 26 Live Cattle are at $241.000, down $1.500,
Oct 26 Live Cattle are at $232.575, down $1.400,
Aug 26 Feeder Cattle are at $353.025, down $1.600
Sep 26 Feeder Cattle are at $350.250, down $1.550
Oct 26 Feeder Cattle are at $347.000, down $1.475
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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